TDS vs TCS | Simplest Explanation With Example | Income Tax

This video is to explain the difference between TDS and TCS in the simplest possible manner.
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[@mohitlulla6260]

This man should be given award for teaching so properly and clearly 🥇

[@Proudtobeself]

🤩Wowww

[@rajatavachanda5927]

Definitely

[@Prem_Chopda_Pyaz_Kaat_ke]

By that logic Rahul Gandhi should be given a award everyday because he Creates a joke everyday....his living itself being another joke. 😂😂😂

[@softgrowl]

But only 2₹ for this pj​@@Prem_Chopda_Pyaz_Kaat_ke

[@faisalakhter3744]

​@@Prem_Chopda_Pyaz_Kaat_ke Bhai kab Tak Rahul or Modi krega ? pdhle thda ye sab ghr nahi chala denge

[@gaurangjoshi9315]

Aise toh Science aur Arts wale bhi sheek jayange TDS & TCS. Amazing conceptual clarity! Kudos to you Sir

[@SEEYOUATTOP]

Great
Thank you!
Was a bit confused when you minus TCS, because I thought, why are you minusing TCS collected by you. Then I watched again & realized that you are minusing your TCS which is collected by others.
Right?

[@TaxationWithCASahilJain]

Correct

[@itsmebanty7698]

Ohh thanks bro
Just asked the same question above... 😅😅

[@alishkumarmanvar7163]

​@@TaxationWithCASahilJain , Hi, suppose I am employee of XYZ company and Govt. is collecting TCS from my employer then being employee, can I see TCS into my form 16 or 26AS or from anywhere? Basically you are saying when my company pays Salary, at the same, it deducts TDS from me and Govt. collects TCS from my company.

[@reshmalawate1272]

Just love d way u explain...conceptual understanding in v less time...😊

[@santprasadvishwakarma6919]

Amazing video, I'm an accountant & i wanted to learn about whole concept of TDS & TCS & this helps me a lot, Thank you so much sir

[@kshitijbarnwal4689]

You made me understand the concept very easily through your explanation, thank you

[@pratikgupta2967]

sir you are really a gem for ca fraternity , your teaching is next level

[@tusharahuja4915]

TCS similar to Forward charge mechanism in gst
TDS similar to reverse charge mechanism in gst

[@Sonuthakur-me3qu]

Sir ek client ne abhi Gst number ke liye apply kiya hai aur uska contractor ka kam hai toh jab uska gst aa jayega aur jab vo bill purchase karega toh kya tds deduct karega kya 194c ke andar

[@ashishbartakke6319]

Thanks a lot sir
Very easy and shortest way to explain

[@meenakshidixit1859]

No words ... Sir.. you made it tooo easy for me .. thanks 🙏

[@AdityaRaj-wh2ht]

This man should be given award for. Teaching so well

[@surajkaushik5092]

You made it so easy sir. Thank you so much.
Sir can you please make a video related to all the terms and taxes related to ecommerce selling ?
We Flipkart and Amazon sellers don't know much about these things and that's why we face alot of losses i guess because we don't know which taxes have to be taken as input/output etc.
Please look at this matter.
Again Thank you ❣️

[@karishmagangwani4035]

Even we are stuck. Please help us know the dynamics of Marketplaces tax please

[@ankittiwari6352]

Thank You Very Much Sir..♥️🤗
Mai 2 Attemp de chuka hu..but mujhe aj Jake pta chala what is the exact difference💪😁..!!

[@AshutoshKumar-ue3dr]

Sir, it seems you were about to tell when and in which case we need to apply TDS and TCS but video abruptly ends. Where can I watch the full video or continuation of this one?

[@caparagpatel7139]

You at least need 2-3 hours to get first hand learning of tds tcs. Thousands of videos are available on youtube related to CA and how to pay & file tds tcs etc....

[@rishabhgoyal2967]

Main ca foundation me ho aur jab bhi main free ho taa studies se tho UA-cam chala tha hoon aur UA-cam pe sir ki class dekha taa majhe aate hain income tax pad ne me sir se

[@pabitrahalder5456]

Sir apka explanation se tds and TCS pura clear ho gya 🙂

[@bharatvaghela6078]

Aap example dekar samjhate h achha samajh me aa jata hai...

[@vidushinyati7050]

Great explanation sir. Amazing... ..
It's rare a CA being a good teacher.
Thankyou so much sir.
Nice lecture in less timing.

[@TaxationWithCASahilJain]

I'm glad you liked it 🙂

[@itsmebanty7698]

Yeah
All CAs are taught by unemployed engineers na....
Just apply some brains if available

[@vidushinyati7050]

@@itsmebanty7698 frst of all an engineer can never teach ca students... .
& another thing if u cannot appreciate someone do not depreciate.
& still if u do it shows what u hv. Coz a person can only give wat he have. Thx.

[@itsmebanty7698]

@@vidushinyati7050 I replied on *It's rare CA being a good teacher.*
As a CA student I learned from so many good teacher and your statement just hearts....
😣😣

[@vidushinyati7050]

@@itsmebanty7698 I m not a CA.. NOR A CA student.. .
I liked the way he taught
That's it... .

[@mayankkumar9861]

Thanks, I watched your video for upsc cse prelims

[@riyajuneja777]

Crystal clear explaination for a CS engineer(no commerce background) !

[@nkr2210]

Thanks sir

[@AshishGupta-fy4rz]

Great expectation as always, Thank you very very much sir ji

[@kewatraju3129]

Waw, what a explanation really its great i'm appreciating your effort on this valuable initiative. Big thanks for making us to understand.

[@apzone7499]

Thanks sir aaj pura clear ho gya

[@digantasikdar7535]

Thank you sir, you explained it very simply

[@iza8068]

Very nice sir but in addition I want to say that to u plz make next vedio with account ing entries

[@Anagh.a]

Sirrrr..., Aftr these many yrs i literally undrstood y the hell this tcs is here😂😂
Tysm😂

[@GarimaAnand1503]

Very good explanation

[@ajfilms459]

Amazing sir... You have clarified in a simple way

[@Sarkari_vlogger]

most underrated channel

[@aspirantmona8863]

Just superb sir ...Ur explanation.... Tq soo much sir...

[@turbonator8920]

I have done the payment as TCS 1.0% (Rs.10790) to KIA motors on purchase of KIA SONET (ex showroom price Rs.1079000).
KIA motors (seller) will deposit the Rs.10790 (TCS) to government after collecting this amount from buyer (from me), right ?
Now my question is :
1) How can I claim for refund of Rs.10790 ?
2) Is the amount will be reflecting in my form 16? as a advance tax paid ? or I need to file the ITR separate for Rs.10790 ?
I am confused, please explain.

[@caranjitmishra5008]

Please make Video on TDS on Purchase of Software for reselling purposes from Indian Co. Or foreign Company

[@syedafarwaabedi279]

Superb explanation

[@im_lal1ta2206]

Thank you so much sir you are awesome 👌 ek baar m hi samjh aa gaya

[@preetichauhan3708]

Thank you so much sir . your teaching style is awesome 😊

[@amarsingh25]

Ek doubt hai
ye scenario mai apne bataya ki Payable Tax=Income Tax - (TDS+TCS)
but agar koi person Tax slab ke andar nahi aata where, Profit

[@BIKASH412]

Lucid explanation for a beginner like me

[@Anonymous-sr6qe]

aage ki video Kahan per available ha sir ji ? Kya aap hamein bata skte ha?

[@devashishkaushik5890]

Thank you mr. Sahil

[@pankajtyagi6156]

Beautiful explanation.
Thank you sir.

[@Sharukh1900]

Sir please reply if I have used my financial year limit of 7 lakh in one bank and did more transaction with other bank will i hav to pay TCS there or i will be exempted their until more 7 lakhs

[@afrojsid]

Thank you so much sir bahut achha samjhaye h aap

[@lakhanindia]

Where is your next video sirji. Very well explained

[@prekshajain9740]

Nice explanation sir

[@varun-lp1zc]

Sir ap mahan ho

[@shahid_khan9634]

Thanks sir..For your great explanation

[@Vivek_Gupta3052]

Ek no. Bataya sir 👏👏

[@belalvamshi8486]

Superb video sir, thank you.

[@whatsupvideos7673]

Sir mathematics question ke saath solve karke batana chaiye tha....baki sabh perfect tha

[@vishnupatel9135]

wheres the content after 11:16 ? please share the link

[@prashantagarwal355]

Understanding made easier..😍
Thanks a lot sahil bhai

[@studypoint5404]

Thanks sir, for understanding the concept

[@rahulchouhan9276]

You are un-describable Sir 🙏🙏💯

[@nitumaurya7446]

Thanks you sir very smart explain

[@mjs-junaidsaifi2181]

is video ke bad wali video konsi h

[@md-pq8pc]

Sir it's too good ....Awesome explanation...

[@nehavarma8930]

Explained in the easiest way with 1 example.

[@VijaySharma-fp7pd]

very very helpfull video
thank you sir

[@gunjangupta7908]

Very nice sir🙏

[@yogpatil7087]

Dear Sir,
Please help me on my query.
I am transporter and I have filled my Income Tax Return for F.Y. 2021-2022. But after filling TDS return my customer, to whome I am providing transport services they send me TDS certificate with debit note they are saying that they have deducted my TDS but filled TDS return in month of November 2022.
Now please tell me how to claim this TDS in current F.Y. 2023 - 24

[@sauravsingh7029]

Wow amazing😍😍😍😍

[@CA_Hardev_Jadeja1]

Understood sir. Thanks for sharing.

[@SonuLakhwani]

Example 🔥🔥... Thankyou Sir🙏

[@madhuramjakhar426]

Best class ever

[@niharbarbhaya2991]

Sir, u are great teacher

[@chaitrasurabi8569]

Your service really amazing but please English while teaching because every different states people watching this so English is the common language to understand the topic,

[@chahatjain6217]

Amazing👌🏻

[@namratapasi3051]

Finally i understood this thank you sir

[@rohitjain2126]

Well explained

[@bharathelluri8393]

Sir is it possible to tell through numbers so that we can understand very clear

[@jattjanu427]

Thnxs sir

[@AVTARSINGH-lp8eb]

Good working sir ..👌

[@salimali2393]

easy and perfect knowledge. Thank you sir

[@rinka4041]

Awesome , best clearity voice😘😗😚☺🤗😀😁😂

[@sinanahamed4457]

Very clear explanation, thank you

[@raghavvbangur8914]

Simply amazing !

[@nitishachhabra2468]

Explained really well

[@priyanshutawer8504]

Amazing sir ,thank you🙏🙏🙏

[@biswaswarupbiswal-bcom1633]

sir, can tds and tcs be charged simultaneously? i mean in the same example, can mr a and mr b charge tds and tcs respectively at the same moment? or only one can be maintained?

[@TaxationWithCASahilJain]

Theoretically, yes. However, mostly only one of these is levied

[@anumalasettymanojgupta9589]

@@TaxationWithCASahilJain What is the thumb rule, to know whether TDS will be collected or TCS will be collected?

[@shaikhazhar1891]

Make series of TDS from start to end with liability online payment how to filling wich software used to pay tds with their section

[@RajEsh-pw1xt]

Sir its really good but if you give an example with numbers it would be much better and please explain in english.

[@vishkv]

thankyou so much sir

[@savitabisht6606]

Sir explanation is good...but first explain who is liable for tcs & tds.....its depend on turnover also

[@amoghsonawane5331]

So for Mr. A Tax liability will be
Total income
(-) tds deducted by the debtors
(+) tcs collected by him
Is this correct?

[@rajverma3429]

No
TCS Is To Be Paid To The Government On Or Before The 7th Of The Month Next To The Month In Which The TCS Was Collected. It Is Not Treated As His Tax Liability.
TCS Which Has Collected By Other Person (Debtor) Is His Tax Liability Which The Debtor Have Been Paid To The Government On The Behalf Of Him.
So The Tax Liability Will Be
Total Income (-) TDS Deducted By Other Person (On His Receipts) (-) TCS Collected By Other Person (On His Payments)

[@amoghsonawane5331]

@@rajverma3429 Understood.. thanks ✌️

[@rajverma3429]

@@amoghsonawane5331 Glad To Help You 😊

[@pratkyashkfunnyvideos4120]

Superb sir

[@ruchiparekh3018]

While making the payment why do we check whether the Ind/huf liable for tax audit or not? Though the TDs which was deduct was on income of the receiver

[@saralgoyal2193]

Great explanation sir

[@badshahkhan2430]

Agar kuch transaction pe Mr A ko loss lg gya to us ka deduction kaise hoga

[@vishaljadhav1971]

Thanks Sir, nice information🌹

[@vishnupatel9135]

Jai Jinendra ! amazin video

[@SanthoshKumar-yq6xb]

Neatly Explained.

[@purnanandraipale8276]

Kya Sirf ek hi transaction pe TDS Aur TCS dono lagta hai??
Jaise ki., Iss video mei jo example aapne diya, Mr B ne TDS 100 rs govt ko pay kiya, Aur Mr A ne isi transaction pe Mr B par TCS 50 rs charge kiya.... Toh abb Mr B ko kitna amount dena hoga Mr A ko??? Kya wo amt 950 rs hoga??

[@prashant7111988]

Very good explaining.

[@explorerhari]

Very good Explanation bhai

[@Ezone_Ent]

Great sir.. thank you so much

[@English_360]

Very well explained, sir

[@Cap834]

Tds is applicable on chitty commission (forman commission )? If applicable under which section

[@rajeshpande2534]

Where is next chapter after this..?

[@RabindraPanigrahy9433]

I am unable to find your next video plz describe.